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NEWS RELEASE DATED June 02, 2008
TRIO GOLD CORP. (TSX-V: TGK, US-Listed: TROOF)
TRIO GOLD CORP. ANNOUNCES the SIGNING of a FOUR MILLION DOLLAR EXPLORATION AGREEMENT
Trio Gold Corp. (“Trio”) announces the signing of a U.S.F $4,000,000.00 Exploration Agreement with Case Financial Inc. (“Case”) to explore Trio’s wholly owned twenty-nine claim, 547 acre, Rodeo Creek gold property located at the north end of the renowned Carlin Gold Trend in Elko County, Nevada. Case is an OTCBB listed company trading under the symbol CSEF.
Under the terms of the agreement Case must spend a total of $1,000,000.00 before the end of 2008 and a further $2,000,000.00 in 2009 to earn a 2% Net Smelter Royalty (“NSR”). By spending a total of $4,000,000.00 before the end of 2010, Case will earn a 70% working interest in the property, unless it elects not to participate in additional development costs, in which case it will have no further working interest, but will have earned a 3% total NSR. In addition Case will issue to Trio 250,000 common shares on signing, 500,000 shares on April 1, 2009 and 250,000 on April 1, 2010. During the Earn-In period Trio will be the operator.
The Carlin Trend is the most prolific gold area in North America, and hosts as many as thirty gold producing mines and development projects, on which over 100 million ounces of gold production and inventory have been identified, including world class deposits such as Newmont’s Carlin mine and Barrick’s Meikle mine.
The Rodeo Creek property is located 1.5 kilometres northwest of Barrick’s Storm deposit. Trio’s property exhibits geological and alteration features common to all deposits on the Carlin Trend. Five geochemically anomalous target areas have already been identified, and some of these are expected to be drill-tested later this year.
Trio is optimistic that the proposed exploration budget could result in a significant gold discovery.
TRIO GOLD CORP.
Suite 145, 251 Midpark Blvd. S.E.
Calgary, Alberta T2X-1S3
E-Mail: trio@triogold.com
Website: www.triogold.com
Phone: (403) 262-9640
Fax: (403) 262-9759
CUSIP #89669C-108, Exemption #82-2127
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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